James Rickards: Cusp of a global financial crisis

Posted by bubah1mau 1 month ago to Economics
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There was recently a Mises Institute article stating that money supply growth has stopped, even turned negative for the first time in 28 years this past November. Events like this have repercussions that show up after a time lag.
https://mises.org/wire/money-supply-g...

Harry Browne in his 1970 best selling "How You Can Profit from the Coming Devaluation" (https://archive.org/details/howyoucan...) made the critical point that the Fed, when a certain inflationary point is reached, can trigger a financial crisis if it overreacts and causes sudden deflation. Then the Fed reacts by turning on the money spigots full blast to avert a depression. Are we now at this point? Rickards lays out his case, concluding with the haunting final comment: "It's coming."
SOURCE URL: https://dailyreckoning.com/on-the-cusp-of-a-global-liquidity-crisis/


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  • Posted by 1 month ago
    Looking for a trigger for the crisis? Look no further than the cryptocurrency "platforms" that take in cash from those who want to purchase and hold any of the various "currencies." These companies are supposed to act as agents, buying and holding on behalf of the purchaser. But what happens when purchasers get nervous and want to cash out? And when the outflow exceeds the input, the inevitable result is bankruptcy. See the following video clip for five crypto platforms that have gone bankrupt just in 2022, two just in November.
    https://www.thestreet.com/video/crypt...
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